Reporting Tim Kephart
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MIAMI (CBSMiami) – The Miami Dolphins haven’t made the playoffs since 2008 and lost out on any state funding for stadium improvements, but the team is still pretty valuable.
According to Forbes.com’s annual list of the most valuable sports teams, the Miami Dolphins are 25th in the world with a value of $1.06 billion. The Dallas Cowboys were the most valuable football team coming in at fifth overall at $2.1 billion.
Still, the Cowboys and other American sports franchises have a long way to go to catch up with the number one team in Forbes’ list. Real Madrid topped the list of most valuable sports teams with an estimated value of $3.3 billion.
The Dolphins have a mixed bag when it comes to value though. The Fins have seen attendance dwindling in recent years and according to the team’s financial reports have struggled with profits as the team has stagnated.
Last season, the Dolphins and its sponsors had to buy up thousands of tickets to keep the games on local television. The NFL requires games be “sold out” 72 hours before kickoff or be blacked out in the local market.
The Fins also have to deal with the fact that the NFL won’t be bringing the Super Bowl back to South Florida until major renovations are done to Sun Life Stadium. The team’s much-publicized loss in the state legislature last March to secure public funding means Sun Life won’t be changing anytime soon.
Still, the Dolphins invested more than $200 million into free agency contracts in the offseason and there is strong hope that there could be a strong return on the investment as early as this season.